May 4, 2010

Greek style

In case you haven't noticed, the American equity market is rolling horse apples with its nose this morning. If you did miss that, it may also be news to you that the riotous Greek labor unionists and students, among others, are occupying the Acropolis. Pericles weeps.

Their two-tiered beef is that the rest of the world is loaning them too little and that the loans will go to reduce earlier debt rather than buy more gummint freebies for unionists and students, among others.

The upshot is that investors are beginning to wonder even harder if Greece and, by extension, every other pissant socialist "democracy" in Europe really care about meeting obligations. And the result of that is that investors will close their purses.

Just mentioning this for those of my friends who admire EuroSoc, including my friendly President who wants to take us there.

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